Some people believe that the Money Pit holds treasure from the ancient Cathedral of St. Andrew's, in Scotland.
The wealthy during the time of Cromwell were suppressed and items such as ecclesiastical plates, gold, silver, gems and goods stolen from the English had found their way to the Cathedral. In 1560, the vast amount of reserves purported to be held there were not to be found and were never recovered. After mysteriously disappearing from the church it is claimed that this treasure found its way to Oak Island.
Although the reasoning behind crossing the Atlantic and burying them on a deserted island off Nova Scotia is unclear, it isn't impossible.